PhonePe Paytm have till February 2020 to update KYC

first_imgNew Delhi: With the Reserve Bank of India (RBI) extending the deadline for mobile wallets to become fully Know Your Customer (KYC) compliant, people using PhonePe, Paytm, Amazon Pay or other such wallets will have no troudble doing their transactions as usual at least till February 29, 2020. The deadline for mobile wallets to become full KYC compliant was earlier set to end on August 31. But on August 30 the RBI extended the deadline by six more months, with the warning that no further extension would be granted. Also Read – Thermal coal import may surpass 200 MT this fiscal “It is advised that the timeline for conversion of minimum detail PPIs (pre-paid payment instruments) to KYC compliant PPIs has been extended from 18 months to 24 months. It may also be noted that no further extension will be granted for this purpose,” the RBI said in the notification to all PPI issuers or mobile wallet providers. Becoming full KYC complinat would mean that the mobile wallet service providers would have to do a physical verification of their customers. Earlier, these PPI issuers made use of partial KYC, which could be completed through a smartphone. Also Read – Food grain output seen at 140.57 mt in current fiscal on monsoon boost Industry body Payments Council of India hopes that the government would come up with a method that would enable mobile wallet users to avoid face-to-face verifications. “PCI further states that the PPI industry hopes government will soon come up with the clarity on e-KYC via Aadhaar or any other remote fully non-face to face digital KYC method in order to enable the PPI industry players to perform this task of full KYC conversion effectively and efficiently under the given timelines as well as in a fast-track manner,” the Payments Council of India said in a statement earlier.last_img read more

Judge reserves decision on request for order to remove Indigenous protest camp

first_imgREGINA – A judge has reserved her decision on the request by the Saskatchewan government for an order to evict Indigenous protesters who have been camping in teepees on the legislature grounds.Justice Ysanne Wilkinson of Court of Queen’s Bench heard arguments Thursday from both sides on what should happen to the Justice For Our Stolen Children camp.The government contends the protesters are breaking bylaws and making it hard for the province to maintain the land across from the legislature building.“This case is not about whether the protesters are advocating for an honourable cause,” government lawyer Michael Morris told a packed courtroom.“It is not about whether there are too many Indigenous children in foster care. It is not about whether the criminal justice system is fair for Indigenous people.“This case is about the government’s ability to regulate, maintain land in Wascana Centre.”The first teepee went up six months ago and more have been set up as campers protest what they say is racial injustice and the disproportionate number of Indigenous children apprehended by child-welfare workers.Morris said the government has received several complaints about the camp and that public safety needs to be considered.The protesters were immediately told they had to leave.Morris said they were given numerous trespassing notices and police moved in June 18 to dismantle the camp. Six people were arrested but never charged.The camp was set up again two days later and police have held off ever since.Nine events have had to be relocated because of the camp, including part of the province’s Canada Day celebration.Protesters have filed a court application of their own seeking to have the six arrests made during the June eviction declared illegal.Meara Conway, a lawyer representing the protesters, said the arrests were a “dismal day for democracy in Saskatchewan.”Wilkinson is giving lawyer Dan LeBlanc, another lawyer representing the protesters, one week to submit further documents pertaining to his case against the arrests.LeBlanc told court Regina police Chief Evan Bray has already concluded the camp does not pose a safety risk. He added that the case is about freedom of speech.“The government bears the burden of convincing you that its infringement is justified,” LeBlanc said.Katrina Swan, a lawyer for the Regina Police Service, acknowledged that there was pressure on the police from the government to dismantle the camp in June.One of the arguments that government lawyers raised and was echoed by the judge is why the protesters never applied for a permit to stay on the legislative grounds.Outside court, LeBlanc said the judge will have to weigh that as she ponders her decision.“It’s true there’s no record of the people applying for permits before,” he said. “There’s certainly appeal level decisions from across Canada which say that’s not conclusive on the answer.”Also outside court, protester Richelle Dubois said that it’s important to have the camp on the legislature grounds.Her 14-year-old son, Haven, died in 2015 from what was ruled an accidental drowning. Dubois has never accepted that conclusion.“It’s a healing place for families like myself for the stories of situations like my son’s,” she said.— Follow @RyanBMcKenna on Twitterlast_img read more

Saad Lmjarred Changes Face on Snapchat

Rabat – After being nominated for 2017’s “Most Handsome Faces,” Moroccan pop singer Saad Lamjarred again appears to be “using his head” to entertain his audience.The singer has just published a new photo on Snapchat. With puffy cheeks and absent chin, the picture caught the eyes of many Snapchat users.After having made a name for himself on Facebook and Instagram, Lamjarred set his sights on Snapchat, using its filters to interact with fans and friends

DR Congo UN welcomes life sentences on soldiers accused of massive rape

“The court has validated the statute of Rome that created the International Criminal Court (ICC) in July 2002 and stated that massive rape is considered a crime against humanity and liable to life in prison,” UN Organization in the DR of Congo (MONUC) human rights official Luc Henkinbrandt said of the life sentences handed down yesterday against seven officers.Five other accused were acquitted by the Military Garrison Court in Songo Mboyo in northern DRC, where members of an Armed Forces of the DR Congo (FARDC) battalion, who came from the ex-Liberation Movement of Congo (MLC), in 2003 collectively raped at least 119 women and girls, many less than 18 years old.“MONUC encourages additional military investigations to help prosecute other military personnel who have not yet been arrested in the framework of this case,” Mr. Henkinbrandt said. In April 2004, a group of MONUC human rights inspectors went to the province of Equateur to investigate the case.The Court delivered its verdict in the presence of victims who said they were satisfied with the sentences and reparation of damages, ranging from $5,000 to $10,000. Compensation of between $200 and $500 will be paid to businessmen and villagers who were victims of robbery. The court acquitted the five other officers on charges of massive rape, crimes against humanity, robbery, incitation to arm, military plot, dissipation of weapons and ammunitions, and usurpation of command because of a lack of evidence. It declared the Congolese state liable for payment of compensation if the FARDC personnel are unable to pay.The battalion rebelled against its commanders who were accused of keeping part of army salaries. FARDC personnel then robbed almost all the houses in the villages of Songo-Mboyo and Bongandanga. read more

Newfoundland boasts about latest oil and gas data from the Orphan Basin

Newfoundland boasts about latest oil and gas data from the Orphan Basin by The Canadian Press Posted Aug 24, 2016 2:39 pm MDT Last Updated Aug 24, 2016 at 3:21 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email ST. JOHN’S, N.L. – The Newfoundland and Labrador government has delivered some encouraging news about its potential offshore oil and gas resources, saying new seismic data is pointing to huge reserves in West Orphan Basin.Premier Dwight Ball announced Wednesday that an independent assessment of nine parcels in the basin found they could contain 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas.The Canada-Newfoundland and Labrador Offshore Petroleum Board, which regulates the province’s offshore industry, has already issued a call for bids that closes in November 2016.Natural Resources Minister Siobhan Coady says the data have revealed 350 leads and prospects — more than 50 of which are in the West Orphan Basin.Ball says the new estimates should encourage more oil and gas exploration, despite the dramatic downturn in the industry.“We do recognize that exploration is down globally due to current challenges in the oil and gas industry,” he said in a statement.“Still, we are cautiously optimistic about positive results of the licensing round in November 2016. We are fully expecting more exploration work by the leading oil and gas companies in the world.”The assessment was conducted by Beicip-Franlab, based in Paris. read more

Jack Mewhort trying not to think about last home game

Redshirt-senior left tackle Jack Mewhort (74) prepares to block a defender during a game against Penn State Oct. 26 at Ohio Stadium. OSU won, 63-14.Credit: Shelby Lum / Photo editorIt is often said football games are won or lost in the trenches. The 2013 Ohio State Buckeyes make no exception to this school of thought.Although senior running back Carlos Hyde is having a great season for the No. 3-ranked Ohio State football team (10-0, 6-0), if it weren’t for the “big uglies,” Hyde’s numbers would be lower.“I give all credit to my offensive line and my receivers,” Hyde said after the game against Illinois, in which he ran for a career-high 246 yards. “They did a great job.”A big part of the offensive line’s success this year has come from redshirt-senior left tackle Jack Mewhort, who is set to start his final game at Ohio Stadium as a member of the OSU football team. It is set to be the 36th straight game Mewhort has started for the Buckeyes.Mewhort said Monday he is “trying not to think about” playing his last game in Ohio Stadium.“I know that when I run out of the tunnel for that last time, it’s going to be a pretty emotional thing,” Mewhort said. “But it’s been a great ride … I owe who I am to this university and this program. So it’s going to mean a lot to me, like I said my last time. I’m going to be taking it all in and looking forward to it.”The last time Mewhort did not start for the Buckeyes at Ohio Stadium was Nov. 27, 2010, in a 37-7 Buckeye win against Michigan.During the Big Ten Teleconference Tuesday, Meyer said Mewhort brings not only a high level of play, but great leadership to the Buckeyes.“He’s one of my all-time favorite players I’ve been around. He’s playing at an extremely high level, but that’s just part of it,” Meyer said. “His leadership — he got hurt last week so we had to take him out of the game and our offense just started spiring and it’s not just the fact that he’s a heck of a player, it’s just the leadership value he brings and the ‘esprit de corps’ that he is a part of.”A large part of the offensive line’s success, Mewhort said, has been the ability to take responsibility as leaders and players.“We did a lot of growing up, as far as maturity goes. I think when coach Meyer got here, we realized that we were the older guys now, and we had to assume some responsibility and not just take a back seat and watch other guys do it,” Mewhort said. “That’s kind of what I’ve mentioned before, guys taking ownership. That was really cool to see. Coach Meyer put a lot of pressure on us to do that and we accepted that and that’s when we started to see guys thrive.”A big concern for the Buckeyes will be blocking out the Senior Day emotions in addition to the BCS standings, and just focusing on Indiana (4-6, 2-4), Mewhort said.“I think there’s a big focus on that now especially that we’re winding down. I think things are getting kind of real for us,” Mewhort said. “We have our eyes on something, but we don’t want to talk about it and I think that’s what coach Meyer was talking about … we’re just going to take it day by day and go through the daily grind and try to get better as an offense and defense.”Redshirt-senior center Corey Linsley agreed with Mewhort, adding that keeping focused on the next game has been part of OSU’s success this year.“Things like the win streak and clinching the Leaders Division and all this, it’s a lot of pressure on you and to think about that stuff and concentrate on that stuff it produces nothing but anxiety, stress,” Linsley said. “Week in and week out, I know it sounds cliche … but it’s a one game season for us. We’ve done nothing but prepare like that all year. Truly, that’s been a huge part of our success.”Mewhort and the rest of the seniors on the Buckeye offensive line are scheduled for their last game at Ohio Stadium Saturday at 3:30 p.m.Mewhort said it has been special playing with the senior class and watching them grow.“I just think we are a really close-knit group of guys. Passionate, I would say. Really caring,” Mewhort said. “There’s something I haven’t seen … I’ve seen guys change over the past three years and really become selfless people. That’s something that’s really special. Seeing guys transform from ‘me’ guys into ‘team’ guys.” read more

Passengers terrified on easyJet flight as deported migrant screams death is coming

first_imgPassengers on an easyJet flight from Gatwick to Venice endured a terrifying trip in which a traveller repeatedly shouted “Allahu Akbar” and “today we will die”.The Mail on Sunday reported the man shouting the threats was a migrant who, accompanied by Home Office officials, was being deported.An 11-minute audio recording  captured the man’s tirade. He screamed “Allahu Akbar” 29 times, “death is coming” 17 times, and “we will die” nine times. Earlier this year it emerged that the Government wasted £1.9 million on “phantom deportations” buying plane tickets for failed asylum seekers who never showed up.A spokesman for easyJet said: “We acknowledge that on this occasion the situation on board could have been distressing for other passengers and apologise for that.”The Home Office declined to comment on individual cases. Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings.center_img Witnesses said officials accompanying the man tried to subdue him as best they could.Lucy O’Sullivan, 33, from Detling, Kent who was travelling with her husband, Terence, said she felt threatened.“The worst-case scenario was that we weren’t going to get off that plane alive because we didn’t know who the person was, what the circumstances were or anything. There was nothing explained to us. It was very daunting.“When we got on board, the seats were moving so he was obviously kicking or thrashing out. I thought someone was having a fit.“But when we got up close we could see people were restraining him.”last_img read more

Matteo Garalda new Guadalajara headcoach

ASOBALgarraldaguadalajara The player with most games in the ASOBAL league, Matteo Garalda (42), and who also has 233 caps for the Spanish national team, decided to go into coaching waters. He will be the new headcoach of Guadalajara, so was announced and confirmed by club’s president Alejandro Ortiz. He won’t be having an easy job next season, knowing Guadalajara is one of the mediocre teams in the ASOBAL, and how it will all work out as headcoach, we will start seeing in about 3 months when the new ASOBAL season begins. ← Previous Story Robert Hedin – Norway coach until 2016! Next Story → Cristian Malmagro to Montpellier!

Singapore man jailed for registering a xxx domain

first_imgUPDATE: Looks like we were had with this story. Visiting DomainGang for the first time we didn’t realize it was actually a parody site. The “digital entertainment for domainers” tagline wasn’t enough to set our alarm bells off. Apologies are in order, the Singapore authorities clearly aren’t raiding people’s houses for owning a .xxx domain.The .xxx domain has taken a long and winding road to approval. It has been trying to become official since 2005, and finally achieved official approval by ICANN in March this year. However, in Singapore, where Internet usage is tightly monitored and restricted, official approval seems to mean very little. Jiaming Sim, who tried to defend his own trademark by buying a .xxx domain during the Sunrise Period, was swiftly arrested (four hours after performing the registration) by Singapore police for doing so.The Sunrise Period refers to a period of time after the launch of a new top-level domain when owners of trademarks can register a domain name to protect their mark from abuse and domain sitters. Sim, who’s famous all over Singapore for producing a papaya and tomato pulp, tried to buy the .xxx domain to protect his company’s interests. According to his lawyer, Pnob Chang, Sim bought the domain so no competitors would post vulgar content under his name.Chang said that the Internet Crime Police in Singapore are very strict and monitor traffic to adult websites. Sim was arrested by a “sizable police force” that entered his apartment, confiscated his computer equipment, and broke a couple of teeth and four ribs as well. Clearly, someone has a big issue with the .xxx domain, or the potential it offers for a glut of new adult content in Singapore.Sim is currently being kept in a maximum security prison in Bukit Panjan, and Chang said they’ll file a motion to release Sim in the coming weeks.Countries like China and India block or restrict access to the .xxx domains, and many religious groups here in the U.S. had lobbied against the creation of a domain for adult content. Still, ICM Registry, the company behind .xxx still was able to get the domain to be approved.via DomainGanglast_img read more

Des nerfs fluorescents pour venir en aide aux chirurgiens

first_imgDes nerfs fluorescents pour venir en aide aux chirurgiensLes scientifiques travaillent actuellement à la mise au point d’un liquide fluorescent qui permettrait d’observer les nerfs habituellement difficiles à percevoir. Un tel système aiderait les chirurgiens dans les opérations complexes.Certaines opérations chirurgicales s’avèrent particulièrement périlleuses car les chirurgiens doivent faire en sorte de ne pas léser les nerfs des patients. Or certains d’entre eux sont pratiquement invisibles. Pour résoudre ce problème, des scientifiques sont en train de mettre au point un liquide fluorescent qui, une fois injecté, rendrait visibles ces nerfs habituellement cachés. Le peptide qui est actuellement développé par une équipe californienne est un fragment protéinique contenant des acides aminés.Injecté dans une souris, il permet de créer un contraste suffisamment important pour distinguer les nerfs des autres tissus environnants. L’étude qui a été menée a permis de constater que la fluorescence commençait à diminuer au bout de deux heures et avait complètement disparue huit heures plus tard sans laisser apparaître le moindre effet secondaire.À lire aussiCes instruments médicaux de l’ancienne époque vont vous effrayerLe Daily Mail rapporte également que les chercheurs ont eu la surprise de découvrir que même les nerfs abîmés étaient mis en évidence du moment qu’ils étaient toujours vascularisés. Il sera donc possible de réaliser des opérations en visualisant précisément les zones où se trouvent les nerfs et donc permettre une plus grande efficacité.A présent, avant d’être réellement utilisé en chirurgie, ce peptide doit passer de nouveaux essais cliniques sur des échantillons de tissus humains.Le 9 février 2011 à 10:18 • Emmanuel Perrinlast_img read more

Pochettino Juan Foyth is not to blame for Spurs defeat

first_imgTottenham boss Mauricio Pochettino insists Juan Foyth’s costly error was not the reason behind their 4-2 derby defeat to Arsenal on SundayDespite taking a half-time 2-1 lead through goals from Eric Dier and Harry Kane, Spurs conceded three times after the break.Alexandre Lacazette’s goal, in particular, caught the eye after Foyth was robbed from possession within his own half before the Frenchman’s deflected 20-yard strike went into the net.Lacazette’s effort handed Arsenal the lead back with Lucas Torreira finishing things off shortly afterwards.But Pochettino refused to blame Foyth and claimed the Argentine defender was one of Spurs’ best players on the day.Jose Mourinho is sold on Lampard succeeding at Chelsea Tomás Pavel Ibarra Meda – September 14, 2019 Jose Mourinho wanted to give his two cents on Frank Lampard’s odds as the new Chelsea FC manager, he thinks he will succeed.There really…“How many players on the halfway line miss the pass? A lot,” said Pochettino, according to Goal.“And then it is 50 metres to arrive at the goal. Because he is young it is easy to blame him, it is easy.“But for me, Juan was one of the best players on the pitch. If we put this pass that wasn’t good in that action out of the 90 minutes, by far [he] was the best. By far.”20-year-old Foyth has made five appearances for Spurs this season.last_img read more

Police man high on mushrooms grabs officers gun shoots

first_imgBEAVERTON, Ore. — Beaverton, Ore., police say an 18-year-old man accused of grabbing a sergeant’s gun inside City Hall and firing a shot was high on mushrooms and hallucinating.No one was hit by the bullet in the Friday evening scuffle.The Oregonian reports that Jared Steven Leone was arraigned Monday on two counts of assaulting a public safety officer, three counts of unlawful use of a weapon and one count of possessing a controlled substance. It was not known late Monday whether he had a lawyer.Detective Sgt. Jim Shumway says Leone is reportedly from the Seattle area although he recently attended high school in Vernonia, Ore.Court records say Leone started running in circles after coming to the police records division in City Hall and telling a clerk he was “overdosing on mushrooms.” Three officers wound up struggling with him and he’s accused of grabbing Sgt. Robert Davis’ gun. Davis suffered a shoulder injury.Police say they used a stun gun seven times on Leone to no effect. More officers eventually helped arrest him.last_img read more

Aberdeenshire and Aberdeen City Councils achieve 10 login for car salary sacrifice

first_imgAberdeenshire and Aberdeen City Councils have achieved a 10% log-in rate to their dedicated driver site after revamping their car salary sacrifice scheme.The car salary sacrifice arrangement was revamped in June 2015 as part of wider changes to the local authorities’ employee benefits programme, which is provided by P&MM.Thus far, 100 orders have been placed through the new scheme, provided by Tusker. This represents a 40% increase in orders compared to the salary sacrifice scheme that ran prior to June 2015.To communicate the scheme to the 20,000 eligible employees across Aberdeenshire Council and Aberdeen City Council, a series of roadshows were held in partnership with Tusker.Martin Kitts-Hayes, Aberdeenshire councillor and chair of the organisation’s policy and resources committee, said: “Our employees work in a wide variety of roles, from home carers to road workers. We fully appreciate how expensive it is to live and work in Aberdeenshire, so this is a great way for our employees to limit and budget for the cost of travel.”last_img read more

Facebook prepares to push Oculus VR headsets for businesses

first_img Tags Best Buy $198 Oculus Go How To • Prime Day 2019 best gaming deals: Oculus Go 32GB for $159, Nintendo Switch for $329 and more available now The next big step for Oculus may be into our office buildings. Sarah Tew/CNET When Facebook pitches its Oculus virtual reality headsets to the masses, it talks of their ability to make you feel as though you’re inside a game, visiting another planet or scuba diving next to massive blue whales, without ever leaving your couch.Its next act might be to take that other-worldliness to your work.Via a job posting, Oculus VR is looking for a software expert to work in its Seattle, Washington offices to help build special versions of its $199 Oculus Go and $399 Oculus Quest mobile VR headsets for businesses. This person would help make the headsets work with various types of business software, the job posting said. An Oculus spokeswoman didn’t immediately respond to a request for comment.The Oculus Go is an entry-level headset that works without the need for a computer or mobile phone to power it. The Quest is a mid-level device that’s also self contained, offering higher quality visuals and controls. Both headsets put screens so close to your eyes they trick your brain into thinking you’re in the computer-generated world.The job posting, first noticed by Variety and which as of time of writing is no longer accepting applicants, is the latest sign of Facebook’s willingness to invest in efforts to broaden the appeal of its headsets. Microsoft has taken a similar tack with its $3,500 HoloLens augmented reality headset, which overlays computer images on the real world. In Microsoft’s case, the company explicitly says it does not want to sell the device to you and me — yet.For Oculus, finding success with the business world could help bolster sales as developers continue searching for a “killer app” that will convince consumers to buy in. But it will still have competition.HTC, for example, announced its Vive Focus VR headset for businesses last November, and Microsoft has been helping partners such as Lenovo, Dell and H-P build VR headsets for businesses as well. See It CNET may get a commission from retail offers. News • Flash sale: The Oculus Go VR headset is back down to $159 (Update: Expired) Oculus Dell Facebook HTC Lenovo Microsoft See it $199 Review • Oculus Go review: $199 VR, no strings attached $199 See It Walmart 0 Post a comment Share your voice Wearable Tech Tech Industry Virtual Reality Apps Mentioned Above Oculus Go (32GB)last_img read more

Anchorage Protesters Demonstrate Against Shells Arctic Drilling Plans

first_img(Alaska Public Media photo)Two protests against Shell’s plans for drilling in the Arctic this summer took place Thursday in Alaska.The first was in Juneau during the early afternoon and later in the day a second protest was organized on a street corner in Anchorage.Standing across the street from a Shell gas station on Northern Lights Boulevard, Gwit’chin Athasbascan Faith Gemmill of Arctic Village said she was there to support Inupiaq people and their subsistence rights.“Their whaling way of life is what’s at stake,” Gemmill said. “If Shell drills in the Chukchi sea, it could be potential disaster for the people there.”Xavier Mason represents the youth council for the Anchorage chapter of the NAACP. He said the permission given to Shell to drill in the arctic is a pivotal moment in Alaska’s history and shouldn’t be allowed.“It’s not just Shell, but anyone, because look at the Gulf spill, that was crazy and if you do that here in Alaska where it’s more remote and a greater diversity of fish and whales and stuff like that and polar bears,” he said.Mason said the risk of spills is too high.last_img read more

Beer buddies ahoy

first_imgCome summer, and the papers are abuzz with how beer consumption in increasing in Delhi and surroundings. Indeed, beer is Delhi’s favourite drink. Which is why it is baffling to see that most people are content with prepackaged stuff that is available over the counter and not bother to check out the fresh beer that some city bars are pouring out. For the Capital, a microbrewery is nothing new. They have been around for some time. But strangely, they have failed to kick up the storm that they are supposed to. Instead of playing on their USP — selling fresh beer that is made right there is their premises — microbreweries are now attempting to be more inclusive in the effort to attract a larger clientele. Of course, survival is essential, but at the cost of their USP? My vote will go against that. Also Read – ‘Playing Jojo was emotionally exhausting’ This thought revisited me when I visited the microbrewery Lemp Brewpub and Kitchen in Gurgaon. More so because Gurgaon is ‘supposedly’ a more cosmopolitan place with mostly a young crowd. Spread over a fairly large area, Lemp gives off a good vibe. When I entered, there was pulsating music but the bar had only a handful of people nursing their drinks. The seating is comfy and there is even space to create a dance floor on special nights. The menu is (like almost every place these days) a mish mash of Mediterranean, Chinese, Italian and Punjabi. And their food is quite good. Also Read – Leslie doing new comedy special with Netflix But what you should focus on are the beers they make right there after an elaborate process that takes months. Pair them with the delicious wood-fired pizzas they have and you have a winning combo there.  But just in case you aren’t a beer lover who found yourself there thanks to friends, I’d say fret not. Just switch on the swish tablet and choose yourself some of the very nice cocktails that they make. I for one, was very happy with them. DETAILAt: Lemp Brewpub & Kitchen, 2nd Floor, Star Mall, Sector 30, South City 1, Gurgaon Timings: Noon to midnight Phone:  30146022 Meal for two: Rs 1,400 approxlast_img read more

Office Loan Defaults Bring CMBS Default Rate Up in Q3

first_imgOffice Loan Defaults Bring CMBS Default Rate Up in Q3 October 30, 2012 518 Views The cumulative default rate for commercial mortgage-backed securities (CMBS) in the U.S. rose over the third quarter, largely due to an increase in defaults among office loans, according to the latest data from “”Fitch Ratings””:http://www.fitchratings.com/web/en/dynamic/fitch-home.jsp. [IMAGE] The rate rose from 13.2 percent in the second quarter of this year to 13.5 percent in the third quarter, according to Fitch. The total amount in CMBS loans that defaulted in the third quarter was $2.2 billion. The total number of newly defaulted loans during the quarter is 119. Office loans made up more than half of both newly defaulted loans in the third quarter and year-to-date defaults, according to the ratings agency. [COLUMN_BREAK] Of the $2.2 billion newly defaulted CMBS loans in the third quarter, $1.4 billion were office loans. Despite the slight increase in defaults, Fitch says new issuances of CMBS loans are staving off the CMBS default rate somewhat. “”The increase in new CMBS issuance over the last two quarters has helped to stem rising default rates,”” stated Britt Johnson, senior director of Fitch Ratings. New issuances have risen almost three-fold over the year, according to Fitch. In the third quarter, new issuances totaled $6.2 billion. In the first quarter, they totaled $2.1 billion. However, Fitch found in addition to the 119 newly defaulted loans in the third quarter, 81 CMBS loans reached maturity and did not refinance. These loans totaled $1.7 billion. Eleven of the 81 are now paid in full–accounting for $723 million of the $1.7 billion. Those that are not paid in full and have not been refinanced include 37 five-year loans from the 2007 vintage, totaling $1.1 billion, and 24 ten-year loans from the 2002 vintage, totaling $132.7 million. During the third quarter, three loans with values greater than $100 million defaulted, including One Skyline Tower, a $678 million office space in Virginia; Colony IV Portfolio B, a $171 million loan on office/industrial spaces in six states; and Kroger Center, a $116 million office space in Florida. in Data, Secondary Marketcenter_img Agents & Brokers Attorneys & Title Companies CMBS Defaults Fitch Ratings Investors Lenders & Servicers Mortgage-Backed Securities Service Providers 2012-10-30 Krista Franks Brock Sharelast_img read more

Government policy will delay natural gas use says former minister

first_imgBy Peter StevensonTHE government has excluded National Hydrocarbons Company KRETYK from any negotiations regarding Cyprus’ natural gas in its attempts to dissolve the company according to former commerce Minister Neoclis Sylikiotis.This followed KRETYK’s executive vice-chairman, Solon Kassinis on Friday announcing his intention to resign. His exclusion from a team appointed last week by the cabinet to negotiate with Cyprus’ US and Israeli partners on the development of natural gas within Block 12 was the main reason, he explained.AKEL party member Sylikiotis said he believed the beginning of the end was when the government decided to cancel the previous cabinet’s decision to give the hydrocarbons company permission to make arrangements for the development of Cyprus’ natural gas.“The government then went ahead and signed a Memorandum of Understanding (MoU) with Noble, DELEK and AVNER essentially bypassing KRETYK who had been preparing the plan since February,” he said.The former minister added that Kassinis’ comments confirmed the fact that the government’s actions are leading to the national company’s exclusion and will create significant delays in a liquefied natural gas (LNG) terminal and the utilisation of natural gas.According to Sylikiotis, 2019 is no longer the latest possible date that an LNG terminal could be built, with some sources, he claimed, stating it could happen in 2020 or later.He accused the government of delaying the process, making it more difficult for the economy to recover.“The investment of several billion euros, mainly from the companies involved, and the creation of thousands of jobs over the next two to three years will be able to push the economy back on the road to recovery,” he said.He called on the government to think twice and allow KRETYK to proceed with an international tender for hiring financial and legal consultants of international stature and allow the company to proceed in negotiations with companies to conclude a final agreement on the creation of a terminal.He added that KRETYK, in cooperation with the other companies, should be assigned to overseeing all of the work that has been included in the agreements made with the government. Sylikiotis explained that assigning state-run companies to oversee procedures dealing with the exploitation of natural gas is common practice in the majority of countries around the world.“We will support the government, if they proceed this way, so that with all of our efforts we can give hope to the people following the discovery of important natural wealth that exists in our exclusive economic zone,” he concluded.You May LikeLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoPopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoSenior Living | Search AdsCheap Senior Apartments in Rowland Heights Are Turning HeadsSenior Living | Search AdsUndo Pensioner dies after crash on Paphos-Polis roadUndoRemand for pair in alleged property fraud (Updated)UndoConcern over falling tourism numbersUndoby Taboolaby Taboolalast_img read more

Yakassai revealed t

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